on in this world in the late '90s. >> narrator: during the dot-com boom, michael krantz works as a technology writer for time magazine in san francisco. >> everybody knew that there were fortunes being made all around them, and very, very few people really understood how these fortunes were being made or why, but they knew that if they didn't get their money in, they were gonna miss out. >> narrator: if a person was of the mind-set, it was the perfect place for fraud. >> experts like me were wrong over and over in saying, "this company's gonna be successful, that company won't." nobody knew. james eberhart, running around with his yes entertainment network package, had as plausible a pitch as many legitimate companies who ended up being successful. in fact, his pitch actually made sense. >> remember the impact that tv had on our lives? it was revolutionary. well, there's another revolution getting underway. i'm sure you've heard of it. it's called the "internet." >> narrator: years before the launch of youtube, yes entertainment claims to be building something revolutionary -- an online-video